Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Neither bulls nor bears have seized the initiative on the last day of the week, according to CoinMarketCap.
BTC/USD
The rate of Bitcoin (BTC) has risen by 0.66% since yesterday. Over the last week, the price has risen by 7.72%.
On the hourly chart, the price of BTC is trading above the local resistance level of $70,555. If the situation does not change by the end of the day, the rise may continue to the $71,000 area tomorrow.
Bears have failed to maintain the fall after yesterday's bearish candle closure. If the rise continues and the bar closes not far from the resistance of $71,649, the accumulated energy might be enough for a breakout followed by a blast to $73,000.
Bulls are more powerful than bears on the weekly chart. However, it is too early to make any far predictions as the rate has not reached the recently formed resistance of $73,755.
If the growth continues, traders may expect a new all-time high in April.
Bitcoin is trading at $70,710 at press time.
Alex Dovbnya
Valeria Blokhina
